25-July-2019: The global anti-wrinkle
products market size is anticipated to reach USD 29.77
billion by 2025 registering a CAGR of 5.7%, according to a new report by Grand
View Research, Inc. Growing geriatric population and rising disposable income
are expected to propel the demand over the projected period. Asia Pacific has
been the largest market for anti-wrinkle products. Rising awareness about
physical appearance across countries, such as South Korea, Japan and India,
have led to an inflated demand for anti-wrinkle creams and serums in the
region. However, a major chunk of Asian population prefers natural and organic
essential oils, such as sweet almond and geranium oil. Serums and oil-based
products are witnessing high demand across the globe. Thus, manufacturers are
focusing on the development of such products.
For instance,
Kiehl’s introduced its night recovery concentrate, an elixir oil product
infused with lavender oil to improve firmness and elasticity of the skin.
Similarly, Clinique launched its repair serum suitable for all skin types to
reduce puffiness and slower the aging process. Continuous product launches by
the manufacturers with an aim to cater to various consumer-specific problems
are expected to drive the growth of the global market. The industry is highly
competitive in terms of product offerings and pricing. Major companies in the
market are benefitted by their acknowledged buyer base and goodwill in the
market. In recent years, the market has been experiencing several technological
innovations, especially in the product formulation. Companies like L’Oreal,
Innisfree, Allergen, Estée Lauder’s, and Beiersdof focus on improving the
effectiveness of anti-aging creams, serums, etc. to attract more consumers.
In
depth research report on Anti-Wrinkle Products Market
Further key findings from the study suggest:
·
Asia Pacific anti-wrinkle products market is said to witness
the fastest CAGR of 6.3% from 2019 to 2025 owing to growing disposable income
levels and geriatric population in the region
·
South Korea accounted for the highest market share in 2018
due to high R&D expenditure on technological advancements in the sector and
consumer preference for organic products
·
European countries, such as Italy and Germany are also likely
to register healthy growth over the forecast period due to growing geriatric
population base
·
Hyper & supermarkets held the major share; while the
online distribution channel will record the highest CAGR from 2019 to 2025 due
to ease of payment and rise in digitalization of payments
·
Manufacturers are focusing on achieving optimum business
growth by implementing strategies, such as M&A, joint ventures, capacity
expansion, product development, promotion of key product brands, and increased
R&D investments
Grand View Research
has segmented the global anti-wrinkle products market on the basis of product,
distribution channel, and region:
Anti-wrinkle Product Outlook (Revenue, USD Billion, 2015 -
2025)
·
Serums
·
Lotions
·
Oils
Anti-wrinkle Products Distribution Channel Outlook (Revenue,
USD Billion, 2015 - 2025)
·
Online
·
Hypermarket & Supermarkets
·
Specialty Stores
·
Convenience Stores
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment